{"id":31733,"date":"2022-07-12T02:07:00","date_gmt":"2022-07-12T01:07:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=31733"},"modified":"2022-07-12T13:17:50","modified_gmt":"2022-07-12T12:17:50","slug":"morning-brief-new-covid-cases-emerge","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/morning-brief-new-covid-cases-emerge\/","title":{"rendered":"Morning Brief &#8211; New COVID Cases Emerge"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"31733\" class=\"elementor elementor-31733\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-56c10bd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"56c10bd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6ab3ff5\" data-id=\"6ab3ff5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fd76058 elementor-widget elementor-widget-text-editor\" data-id=\"fd76058\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Financial markets are in sell-off mode after new COVID-19 cases were reported in Shanghai, which is arguably the most important financial hub of China.<\/p><p>The number of new cases in Shanghai have been rising quite sharply in percentage terms, bringing up renewed lockdown concerns and the associated negative impacts on China&#8217;s economy.<\/p><p>According to the report, there are 54 new local asymptomatic cases in Shanghai, 5 symptomatic and 3 outside of the quarantine zone. This news comes after MACAU was recently closed down.<\/p><p>The cases have caused futures to dive lower, and we are also seeing an acceleration of the breakout in the <a href=\"https:\/\/bit.ly\/3tzpfOh\" target=\"_blank\" rel=\"noopener\">US dollar index <\/a>after Monday\u2019s surge towards 108.00.<\/p><p>The White House also put a statement that they expect the CPI numbers for this week to be \u201chighly elevated\u201d. This is naturally causing more traders to expect a 75-basis point hike.<\/p><p>As the uptrend accelerates in the DXY we are naturally seeing a lot of market chatter about the euro below parity. The <a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">EURUSD<\/a> pair is now very close to parity.<\/p><p>FX forecasts are coming thick and fast for the EURUSD pair, and <a href=\"http:\/\/bit.ly\/2qiQbnK\" target=\"_blank\" rel=\"noopener\">Goldman Sachs<\/a> has put out an investment note stating that the euro could fall towards the 0.9600 level.<\/p><p>The bank stated that \u201cwe see the risks tilted towards more downside over the coming weeks, particularly after the strong US employment report that should keep the Fed on the tightening path and somewhat reduce imminent recession concerns\u201d.<\/p><p>Moreover, Goldman Sachs analyst said \u201cWe downgraded our Euro area baseline growth expectations for the next year by about 75bp, while also flagging the risk of a more severe downturn if gas flows from Russia are interrupted entirely. If the market were to move to price our severe downside scenario, it could push EUR\/USD lower by another 5%\u201d.<\/p><p>Futures are down quite sharply already, with the <a href=\"https:\/\/bit.ly\/3N3cW3M\" target=\"_blank\" rel=\"noopener\">Nasdaq<\/a>, <a href=\"https:\/\/bit.ly\/3tCIuXl\" target=\"_blank\" rel=\"noopener\">DJIA<\/a>, and <a href=\"https:\/\/bit.ly\/3xANvRt\" target=\"_blank\" rel=\"noopener\">S&amp;P500<\/a> moving heavily into the red. European stock indices are also set to open lower.<\/p><p><a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\" rel=\"noopener\">Gold<\/a> has failed to catch a safe haven bid today and copper and silver are in the red. It is also noteworthy that Bitcoin has fallen back under the $20,000 support level.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Financial markets are in sell-off mode after new COVID-19 cases were reported in Shanghai, which is arguably the most important financial hub of China. The number of new cases in Shanghai have been rising quite sharply in percentage terms, bringing up renewed lockdown concerns and the associated negative impacts on China&#8217;s economy. According to the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":31739,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[176,45,95,28,585,270],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Morning Brief - New COVID Cases Emerge - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/morning-brief-new-covid-cases-emerge\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Brief - New COVID Cases Emerge Morning Brief - New COVID Cases Emerge\" \/>\n<meta property=\"og:description\" content=\"Financial markets are in sell-off mode after new COVID-19 cases were reported in Shanghai, which is arguably the most important financial hub of China.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/morning-brief-new-covid-cases-emerge\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-12T01:07:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-12T12:17:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/07\/martin-sanchez-Tzoe6VCvQYg-unsplash.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"427\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morning Brief - New COVID Cases Emerge Morning Brief - New COVID Cases Emerge\" \/>\n<meta name=\"twitter:description\" content=\"Financial markets are in sell-off mode after new COVID-19 cases were reported in Shanghai, which is arguably the most important financial hub of China.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/morning-brief-new-covid-cases-emerge\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/morning-brief-new-covid-cases-emerge\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Morning Brief &#8211; 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